Bridge Industrial Secures $53M Construction Loan For Redevelopment Of Ryder Headquarters Into Bridge Point Flagler Station

Bridge Industrial (“Bridge”), a privately-owned, vertically integrated real estate operating company and investment manager, announced it has secured a $53 million construction loan to finance the redevelopment of Ryder System’s former headquarters into Bridge Point Flagler Station, a Class-A, LEED®-certified industrial real estate complex located in Miami.

CDPQ, a global investment group, provided the $53 million loan, which was secured by CBRE’s Debt & Structured Finance team, led by Steve Roth and Bill Jurjovec. The loan will finance the redevelopment of the 16.8-acre site at 11690 N.W. 105th Street into Bridge Point Flagler Station, a 326,448-square-foot logistics complex.

The project is slated for delivery in the third quarter of 2025.

“We are pleased to have worked with CDPQ on this transaction,” said Kevin Carroll, Partner, Southeast Region, Bridge Industrial. “Securing this construction loan in such a tight credit market, amidst ongoing interest rate adjustments, underscores the viability of our project and our long-standing success in delivering investor-grade logistics complexes. With financing in place, we are excited to go vertical on Bridge Point Flagler Station.”

Situated within one of South Florida’s largest master-planned corporate parks, Bridge Point Flagler Station offers Class-A industrial space in a beautifully landscaped corporate campus setting with ample on-site amenities, including a hotel, daycare, fitness center, and restaurants. This new logistics complex will feature two LEED certified industrial buildings: Building 1 spans 128,805 square feet, and includes 40 dock docks, two drive-in doors, 142 car parking spaces, and office space. Building 2 spans 197,643 square feet, and includes 44 dock doors, two drive-in doors, 198 car parking spaces, and office space. Both rear-load buildings boast 36′ clear ceiling heights and a 180′ shared truck court. Frontage on the Florida Turnpike enhances visibility and brand presence.

Strategically located off NW 107th Street and NW 117th Avenue in Miami-Dade County, with access to corporate park’s dedicated Florida Turnpike interchange, Bridge Point Miami Flagler Station provides excellent access to all major transportation routes in South Florida, including SR 836 (Dolphin Expressway), SR 826 (Palmetto Expressway), and US-27 (Okeechobee Road). This prime location is just 15 miles from Miami International Airport, 18 miles from PortMiami, and 30 miles from Fort Lauderdale-Hollywood International Airport and Port Everglades, ensuring seamless connectivity to the region’s key transportation hubs. Additionally, the convenient location allows tenants access to a wide employee pool from both Miami-Dade and Broward Counties.

Bridge is one of South Florida’s most active industrial real estate developers. Since 2012, the company has acquired more than 740 acres in 22 separate transactions across South Florida. Bridge has delivered or has under construction over 11 million square feet of Class-A industrial space regionwide. Bridge continues to seek opportunities to develop modern industrial facilities in the most supply-constrained core infill industrial markets across the globe, that can meet the steady demand for last-mile and next-day delivery.

Source: CRE-sources